Regulatory Updates - Hong Kong's Securities and Futures Commission (SFC) has mandated stricter custody regulations for virtual asset platforms [1]

Regulatory Framework - Pakistan establishes the Pakistan Virtual Assets Regulatory Authority to regulate and oversee its crypto sector [1] Objectives - The goal is to protect consumers [1] - The goal is to attract global investment [1]

TF International Securities is seeking regulatory approval to offer a wide range of virtual asset-linked services in Hong Kong and kick-start growth outside the traditional brokerage business, sources say https://t.co/advWBZj2Hm ...

Core Viewpoint - Guotai Junan International has received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services, allowing clients to trade cryptocurrencies and stablecoins directly on its platform [1][5]. Company Summary - Guotai Junan International is now the first Chinese broker in Hong Kong to offer comprehensive virtual asset trading services, including trading, advisory, and issuance of related products [5]. - Following the announcement, Guotai Junan International's stock surged over 60%, with an intraday increase exceeding 100% [1][5]. Industry Summary - The approval for virtual asset trading is expected to significantly enhance the valuation of financial companies involved in stablecoins, as seen with Everbright Holdings, which saw a stock price increase of over 50% due to rumors of its stake in Circle [4][5]. - Stablecoins are anticipated to transform the role of brokerages from mere transaction facilitators to asset securitization engines and cross-border clearing hubs, which could positively impact their valuations [4][6]. - The current stablecoin market is valued at approximately $220 billion, with projections suggesting it could grow eightfold to $2 trillion in the next three years, potentially influencing the short-term treasury market significantly [8].